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AustChoice Super - Employer Sponsored

Past 5-year return
8.28%
Admin fee
$53
Calculated Fees on 50k
$1,181
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Extensive investment choice.
Competitive insurance package, tax effective rates.
Ability to maintain AustChoice Super membership regardless of work status through the three divisions available within AustChoice.
Ability to accept a wide range of super contributions, including employer and Superannuation Guarantee contributions.
Ability to contribute via BPAY, cheque or direct debit, in-specie transfer of share holdings available.
Dedicated customer service staff.
AustChoice Super Employer is a division of the IOOF Portfolio Service Superannuation Fund that caters to employer super plans which are established by employers for their employees. This product is closed to new members. AustChoice Super offers members an extensive investment menu comprising of ready-made diversified and single sector portfolios, externally managed funds, listed investments and term deposits. The MultiMix Balanced Growth Trust option outperformed the SuperRatings Index over the year to 30 June 2018; however, underperformed over the longer term.Fees are higher than the industry average across all account balances assessed, although discounts apply once the member's account balance exceeds $100,000.AustChoice Super provides eligible members with automatic Death, Total & Permanent Disablement and (TPD) and Income Protection (IP) cover. Employer nominated insurance cover can be based on fixed premium, fixed cover, formula based or calculated from a multiple of the member's salary. IP provides 85% (including SG) salary coverage over 2 years, 5 years or to age 65, with a waiting period of 30, 60 or 90 days. Members are required to work at least 15 hours per week to qualify for IP cover.Other features of the product include a regular contribution plan, secure online member access, financial planning and consolidated reporting.

Fees & fund features

Admin fee
Admin fee
$53
Administration fee (%)
Administration fee (%)
1.21%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
Exit fee
Exit fee
$75
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
1.05%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$0
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Admin fee
Admin fee
$53
Administration fee (%)
Administration fee (%)
1.21%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
Exit fee
Exit fee
$75
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
1.05%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$0
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
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FAQs

A superannuation fund is an institution that is legally allowed to hold and invest your superannuation. There are more than 200 different superannuation funds in Australia. They come in five different types:

  • Retail funds
  • Industry funds
  • Public sector funds
  • Corporate funds
  • Self-managed super funds

Retail funds are usually run by banks or investment companies.

Industry funds were originally designed for workers from a particular industry, but are now open to anyone.

Public sector funds were originally designed for people working for federal or state government departments. Most are still reserved for government employees.

Corporate funds are arranged by employers for their employees.

Self-managed super funds are private superannuation funds that allow people to directly invest their money.

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